Impact Of Digital Transformation On High-quality Development Of Enterprises

With the proposal of the goal of "Digital China" and the rapid development of digital economy,enterprises have gained stronger driving force for development and ushered in broader prospects for development.At the same time,they are also faced with unprecedented opportunities and challenges.It is difficult to meet the challenges of new situation and new risks simply by increasing quantity,and enterprises need to pay more attention to the improvement of quality in the long-term development.In recent years,under the background of digital economy,our country has vigorously advocated the development of digital transformation.Some scholars have affirmed the promoting role of digital transformation on enterprise innovation performance,operation management and other aspects.However,with the continuous deepening of digital economy,the negative impact of digital economy has also been emerging.Therefore,whether enterprises can promote the improvement of development quality through digital transformation and what role different development levels of digital economy will play in it need to be further studied.After reviewing the relevant literature on the impact of digital economy on economic society,the internal and external impact of digital transformation on enterprises,digitalization and total factor productivity,this thesis constructs the benchmark regression of the impact of digital transformation on enterprises’ high-quality development based on the theory of competitive advantage,resource-based theory,transaction cost theory and endogenous growth theory.At the same time,taking "digital economy" as the threshold variable,the difference of the influence in different levels of digital economy is studied.Through the empirical study of China’s A-share listed companies from 2017 to 2021,it is found that:(1)enterprise digital transformation will promote the improvement of enterprise total factor productivity,and thus promote the high-quality development of enterprises.(2)Digital economy plays a significant role in promoting the high-quality development of enterprises in digital transformation.This role has a threshold effect,which weakens when the level of digital economy exceeds 4.4909.(3)Further research shows that digital transformation has significant heterogeneity in promoting high-quality development of enterprises.Digital transformation significantly promotes high-quality development of enterprises in eastern and western regions,but has no significant impact on enterprises in central region.The threshold effect of digital economy is also heterogeneous due to the location of enterprises.There is a threshold effect on enterprises in the eastern region,while there is no threshold effect on enterprises in the western region.Based on the main research conclusions of this thesis,relevant countermeasures and suggestions are put forward from the level of government and enterprises:(1)Enterprises should make full use of policy advantages,further promote digital transformation,and cultivate and develop new economic growth points;(2)The government should optimize the market environment,formulate and implement policies to encourage digital transformation,promote regional cooperation as a whole,and improve the overall level of digital economy.At the same time,it should pay attention to breaking through the bottleneck of digital economy development.